BlackBee creates world’s first accelerator note powered by SOSV

Pictured at the launch of the Accelerator Note 1 fund were: Stephen McCann, CFO of SOSV; Bill Liao, investment partner at SOSV; Sean O'Sullivan, founder and MD of SOSV; and David O’Shea, CEO of BlackBee Investments

BlackBee Investments is launching the Accelerator Note 1 fund that tracks SOSV fund III which is investing in up to 700 tech startup companies worldwide through its accelerators programs such as HAX and IndieBio.

The accelerator note tracks SOSV’s successful $200m USD Fund III where the SOSV general partners have personally provided $100m of the fund which other private investors are matching.

The Accelerator Note 1 fund will be backed by the growth in value of several hundred high potential start-ups and entrepreneurs from around the world that SOSV III has invested and is investing in.

‘Traditionally venture capital is provided by large institutional funds. However, the Accelerator Note 1 enables individuals and Irish investors to get involved in this exciting and dynamic sector’– DAVID O’SHEA

BlackBee, which has expertise in fund management, will provide the ability for investors to take part in a six-year regulated investment listed on a European exchange.

The Black Bee offering is only available in Ireland and the UK.

Identifying the industries of the future

SOSV III has expertise in building tech companies with a presence in Europe, North America and Asia across domains such as internet of things, life-saving medicines and new sources of nutrition.

SOSV, which is headed by Sean O’Sullivan, has boasted returns averaging 27pc over the past 15 years. O’Sullivan’s first company, MapInfo, grew into a US$200m public company. Among his successful investments to date are Netflix and Harmonix, creator of Guitar Hero and Irish success Storyful.

Structured to provide optimal exposure and tax efficiency, the Accelerator Note 1 will remain open to Irish investors until December 2016.

“Traditionally, venture capital is provided by large institutional funds. However, the Accelerator Note 1 enables individuals and Irish investors to get involved in this exciting and dynamic sector,” said David O’Shea, CEO of BlackBee Investments.

“We are committed to providing the best and most innovative investment ideas to investors and we are delighted to be working with one of the world’s leading venture capital firms, SOSV, in this regard.”

Disclosure: SOSV is an investor in Silicon Republic

Updated, 10.05am, 6 October 2016: This article was updated to more accurately clarify the structure of the new fund which is providing unprecedented access for the Irish public to invest.